Kathy is 48 years of age and self-employed. During 2018 she reported $110,000 of revenues and $44,000 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018? (Round your final answer to the nearest whole number)

Multiple Choice

$12,267.

$17,157.

$61,500.

$55,000.